Indonesia's PT Pertamina defer expansion plans on financial gloom, crude price volatility

09-Jan-09
Owing to the global financial crisis and volatility in crude prices, Indonesia's state-owned PT Pertamina has announced to put on hold expansion projects at two of its major refineries - Cilacap refinery (Central Java Province) and Balikpapan refinery (East Kalimantan Province), Jakarta Globe reported. The decision calls for delay of company's proposed capacity expansion of Cilacap refinery to 410,000 bpd by 2010 and Balikpapan refinery's 20,000 bpd increase to 280,000 bpd by end of 2009, the report said. The company operates seven refineries with a combined capacity of a little over 1 mln bpd.
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